31st Jan 2019 10:31
LONDON (Alliance News) - Civitas Social Housing PLC on Thursday posted a negligible drop in its net asset value for in the third quarter due to a number of dividend payments.
Civitas Social Housing is a real estate investment trust which invests in regulated social housing in England and Wales. As at December 31, the trust's IFRS net asset value per share was 106.5 pence, up from 106.1 pence on September 30.
However, its portfolio net asset value fell very slightly to 115.1p per share from 115.2p per share and reflects additional dividends in the period.
In the quarter, a C share dividend of 0.75p per share was declared and paid, totalling GBP2.3 million and an ordinary share dividend of 1.25p was also declared and paid, amounting to GBP4.4 million.
During the period, Civitas Social Housing converted its C shares to ordinary shares and announced a further 1.11p ordinary dividend per share worth GBP3.9 million plus a C share dividend of 0.67p per share totalling GBP2.0 million. These are included in the portfolio net asset value.
The trust has declared an additional fifth dividend for the ten day period from December 21 to December 31 of 2018 of 0.14p per ordinary share which will be paid at the end of February.
After listing in 2017, the company declared a 0.75p per share maiden interim dividend and then another three 0.75p per share quarterly dividends followed by a final 1.25p dividend for its final financial quarter to March 31, 2018.
Civitas Social Housing acquired 36 properties during the period.
Shares in Civitas Social Housing were flat at 104.00 pence on Thursday morning.
Related Shares:
CSH.L